Trump’s love-hate with Time magazine? Now the Koch brothers own it... sort of.
Time's 2017 "Person of the Year" is set to be announced on December 6 and already our ever-so-humble president is at it again; wrangling with the Media, that is.
President Trump has had a tepid relationship with Time, which also owns Fortune, People magazine, and Sports Illustrated.
Following Trump's win in 2016, he was quick to boast his "Person of the Year" designation. Ahead of its 2017 crowning, Time was called out by the president:
Time was quick to provide a retort:
But the public spat has taken a new turn as news broke that Time will be acquired by Meredith Corp., which owns Better Homes and Gardens and Family Circle, in a deal backed by $650 million from the Koch brothers.
Meredith Corp. CEO Stephen Lacy is on record as stating that the Koch brothers "will not have a seat on the Meredith Board and will have no influence on Meredith's editorial or managerial operations."
But this is doubtful given that the Koch brothers are quite savvy at employing charity and dark money to fund conservative groups, reform efforts, and challenge liberal policies. Like Rupert Murdoch, a leading and outspoken conservative media magnate, while they many not have a seat on the board or direct influence, they are equivalent to giant elephants in the room.
To be clear, their investment of $650 million, roughly 20% of the $3 billion acquisition of Time, is substantial and not easily ignored.
The Koch brothers have toyed with owning a media outlet for years to help push their ultra-conservative agenda and to further place a stranglehold on American politics and politicians. America must be wary.